Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Turkish family detained in Qatar as Erdogan steps up crackdown on Gulenists abroad

Qatari police detained five members of a Turkish family who are linked to the faith-based Gülen movement while the family was on their way to South Africa, the yenihamle.com news website reported on Monday.

TUSKON offers Brazilian investors cooperation in tourism

Turkish Confederation of Businessmen and Industrialists (TUSKON) President Rızanur Meral on Thursday called on investors from Brazil to enhance cooperation with their Turkish counterparts in tourism projects. Meral met Brazilian Foreign Minister Antonio Patriota in a meeting in İstanbul on Thursday where commercial ties between the two countries were discussed. A total of 30 TUSKON member investors participated in the meeting.

Will Malaysian Prime Minister Najib Allow Kidnappings In His Country?

The recent politically motivated kidnapping incidents backed by the Turkish authorities which targeted the followers of Gulen movement in Malaysia raise serious questions about the standards of the rule of law, civil liberties, the individual rights and quality of the political system of Malaysia.

Only the people of the land can create a spring, GYV President Yeşil says

DASİDER Chairman Ahmet Öner emphasized in his speech that discrepancies among members of society are a reality of human life and are part of the richness of God’s reflection in the universe. Yeşil said, “We believe that the Alevis, Kurds and Circassians of these lands belong with us. The notion of ‘we’ is sufficient to describe all of us. It is always possible to grow together and to share every opportunity, based on justice and human rights.”

Turkish minister’s leaked email shows trustees to Gulen affliated organizations not appointed by courts

In the email Ahmet Özal says: “Definitely, trustees will be appointed to Turgut Özal University. … I think the esteemed president will also be happy if I cleanse Turgut Özal University [of Gülen sympathizers] and end the association between that community and my father’s name. I would be very pleased if you could convey this issue to the president [Erdogan] and help me get his support and approval.”

Private schools leave mark on Science Olympiad

İzmir’s private Yamanlar, Ankara’s private Samanyolu and İstanbul’s Fatih colleges all left their mark on the 20th National Antalya Mathematics Science Olympiad, organized for primary and secondary schools by Akdeniz University and held on May 3 and 4.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Yeni Asya editor: Erdoğan kept strategy to finish off Gülen movement secret

Turkey’s Ankara Mayor Gökçek Hints ‘Genocide’ For Followers Of Gülen Movement

Woman sent to prison on coup charges hours after surgery

Governor’s office rejects Kimse Yok Mu’s application for aid campaign

Ahmet Altan has shown which side he’s on

Hizmet Movement is not interested in attaining political power in Turkey or elsewhere in the world

In redemption days hoping for better

Copyright 2026 Hizmet News